Process Mining for Inspection and Compliance

Audit Procedure Should Be Renewed

Few of the technological innovations that have entered business life in the last 10 years have been reflected in the field of Audit and Compliance. At its core, the audit still relies on individual interviews, still retaining the retrospective and random control approach.

This approach is inadequate compared to the rapid developments in the way companies operate. At a time when companies are standardizing and centralizing their primary business processes, this manual approach puts auditing and compliance control at a disadvantage and forces change.

Trends leading to an innovative and technology-driven audit approach

Companies today are increasingly using IT systems to support end-to-end business processes. Rather than just keeping track of accounts, purchases, sales and finances in an ERP system, modern businesses are also automating all accounting procedures. On a scale previously unimaginable, different IT systems are centralized and at the same time large parts of companies are restructuring to adapt to new technologies.

Innovation in Audit with Process Mining

Current IT systems contain extremely detailed records – event logs – of the execution of processes. Process Mining analyzes these event logs to create a holistic, complete, accurate, visual and analyzable model of business processes in the organization.